Theodore Schultz Famous Quotes
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Most of the people in the world are poor, so if we knew the economics of being poor, we would know much of the economics that really matters. Most of the world's poor people earn their living from agriculture, so if we knew the economics of agriculture, we would know much of the economics of being poor.
In general, I avoided giving lectures or attaching myself while abroad to a university. To learn what I wanted to know, I went instead to rural communities and onto actual farms. Talk with university people, government officials and U.S. personnel stationed in the country was much less rewarding for me.
My professional apprenticeship at Iowa State College from 1930 to 1943 could not have been better; the Great Depression made it so, and the talented younger economists at Ames during that period made it an exciting and profitable intellectual experience.
People who are rich find it hard to understand the behavior of poor people. Economists are no exception, for they, too, find it difficult to comprehend the preferences and scarcity constraints that determine the choices that poor people make.
My schooling was disrupted by the shortage of labor during World War I. It meant foregoing high school. Then, late in 1921, I entered upon a short course in agriculture at South Dakota State College. I managed to enter college in 1924, and I was permitted to complete my college work in three years.
The adverse economic events following the First World War turned me toward economics.